Castle Hook Partners LP Sells 231,345 Shares of Cameco Co. (NYSE:CCJ)

Castle Hook Partners LP lowered its stake in Cameco Co. (NYSE:CCJ) (TSE:CCO) by 29.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 566,710 shares of the basic materials company’s stock after selling 231,345 shares during the quarter. Cameco accounts for 0.5% of Castle Hook Partners LP’s portfolio, making the stock its 27th biggest position. Castle Hook Partners LP’s holdings in Cameco were worth $27,066,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CCJ. Tidal Investments LLC lifted its position in Cameco by 15.5% in the first quarter. Tidal Investments LLC now owns 20,036 shares of the basic materials company’s stock valued at $868,000 after purchasing an additional 2,683 shares during the last quarter. LRI Investments LLC bought a new stake in Cameco in the first quarter valued at approximately $26,000. Beck Bode LLC lifted its position in Cameco by 11.2% in the first quarter. Beck Bode LLC now owns 46,681 shares of the basic materials company’s stock valued at $2,022,000 after purchasing an additional 4,689 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its position in Cameco by 22.4% in the first quarter. DekaBank Deutsche Girozentrale now owns 124,821 shares of the basic materials company’s stock valued at $5,338,000 after purchasing an additional 22,820 shares during the last quarter. Finally, Hamilton Wealth LLC lifted its position in Cameco by 76.3% in the first quarter. Hamilton Wealth LLC now owns 8,978 shares of the basic materials company’s stock valued at $389,000 after purchasing an additional 3,886 shares during the last quarter. Institutional investors own 70.21% of the company’s stock.

Cameco Price Performance

Shares of CCJ stock opened at $57.81 on Thursday. The company has a quick ratio of 1.26, a current ratio of 2.88 and a debt-to-equity ratio of 0.20. The business’s fifty day moving average is $52.73 and its 200 day moving average is $48.81. Cameco Co. has a twelve month low of $35.43 and a twelve month high of $60.98. The stock has a market cap of $25.16 billion, a price-to-earnings ratio of 304.28 and a beta of 0.89.

Cameco (NYSE:CCJ) (TSE:CCO) last released its earnings results on Thursday, November 7th. The basic materials company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.39 by ($0.40). Cameco had a return on equity of 3.33% and a net margin of 4.15%. The company had revenue of $721.00 million during the quarter, compared to the consensus estimate of $646.83 million. During the same period last year, the firm posted $0.24 earnings per share. The company’s revenue was up 25.4% compared to the same quarter last year. Research analysts expect that Cameco Co. will post 0.7 EPS for the current fiscal year.

Cameco Increases Dividend

The company also recently announced an annual dividend, which will be paid on Friday, December 13th. Shareholders of record on Wednesday, November 27th will be issued a $0.118 dividend. This is an increase from Cameco’s previous annual dividend of $0.09. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a yield of 0.22%. Cameco’s dividend payout ratio is currently 47.37%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CCJ. Janney Montgomery Scott raised Cameco to a “strong-buy” rating in a research note on Friday, October 4th. Scotiabank reduced their target price on Cameco from $81.00 to $80.00 and set an “outperform” rating on the stock in a research note on Monday, August 19th. Cantor Fitzgerald raised Cameco from a “neutral” rating to an “overweight” rating in a research note on Wednesday, July 31st. National Bank Financial raised Cameco to a “strong-buy” rating in a research note on Tuesday, September 3rd. Finally, Glj Research reissued a “buy” rating and set a $63.73 target price on shares of Cameco in a research note on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, five have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $66.56.

Cameco Profile

Cameco Corporation provides uranium for the generation of electricity. It operates through Uranium, Fuel Services, Westinghouse segments. The Uranium segment is involved in the exploration for, mining, and milling, purchase, and sale of uranium concentrate. The Fuel Services segment engages in the refining, conversion, and fabrication of uranium concentrate, as well as the purchase and sale of conversion services.